Thursday, February 21, 2008

Prem Watsa (CEO Fairfax Financial -FFH ) says credit losses are far from over

from Bloomberg today - some interesting quotes

-``It's still early days,'' Watsa said in an interview today from his Toronto office. ``This is a very extensive credit problem.''

-``We're just rolling through mortgages right now, but we haven't gone through all the other areas yet,'' such as credit- card debt, commercial real estate loans and automobile lending, Watsa said.


-``We have sold most of our monoline insurers,'' Watsa said. ``You figure out risk versus reward, and you might well decide to sell. We've done that with monolines, but the others we're continuing to review.''

here's the link

Disclosure: I own shares of FFH

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